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Marc Faber on the US banana republic
Posted on 24 May 2009 with no comments from readers
Dr Marc Faber thinks the Obama administration is a disaster and considers inflation inevitable eventually. The importance of the US dollar will diminish and over time it will become worthless. A new gold standard is likely.
Posted on 24 May 2009
Categories: Banking & Finance, Bond Markets, Investment Gurus, US Dollar, US Stocks, Video Channel
no Comments posted by readers:
Faber is always “on target” with his commentaries.
A banana republic that is the global policeman. Things can get ugly without police. Remember Rwanda? Social and economic systems are difficult to change, because most people don’t like the risk inherent in change. Inflation has been a problem for many years, yet most people in the developed world are living better than ever. I would put problems like peak oil, and rapid population growth, well ahead of inflation on my list of dangerous problems. Money is a concept. People and energy are real. Oh, and a banana republic that feeds a significant percentage of the poorest people on this planet, and has for a long time, giving a lot of food away for free.